Asset management is an integral part of an enterprise’s efficiency to accomplish its profitability and operational excellence goals. Asset managers, in charge of assets within an enterprise are responsible for ROA (Return on Assets) by ensuring the best optimization of an asset to meet production demand and cost control. In addition, to managing strict maintenance schedules in the physical environments, they, come across machinery and plant upkeep issues, like asset age, wear down, safety risks, simultaneously rise in capital cost, and unexpected business failures.
However, they are assisted by predictive analysis solutions based upon real-time streaming of data received from sensors, machines, and other assets connected through the IoT in order to overcome the shortcomings of traditional maintenances methods. The Intelligent asset management solution offers them clean, high-quality, reliable, transparent, and real-time data for decision support across maintenance schedules.
Wipro’s Intelligent Asset Management Solution for optimized asset performance
Wipro through its Intelligent Asset Management Solution (IAMS) leverages real-time virtual reality-backed digital twin to enhance the performance and capability of assets in an enterprise. The Wipro’s IAMS integrates SAP S/4 HANA with SAP’s Intelligent Asset Management System for real-time streaming and insights for predictive maintenance schedules and performance enhancement. This ensures that an asset facility operates with maximum efficiency with zero downtime.
Wipro provides efficient consolidation of S/4HANA with SAP’s LEONARDO IOT in aligning with an enterprise’s assets. While creating a digital twin this integration simulates answers to all ‘what-if questions’ of a line manager.
By integrating digital twin with SAP S/4HANA, Wipro holistically reforms the asset management system of an enterprise by creating:-
- Solid digitally transformed foundation for operational excellence
- Effective management of asset-related costs, risk, and performance, holistically
- Predictive maintenance strategies facilitated with analysis of real-time data
The core architecture of SAP S/4HANA integrated with SAP’s intelligent asset management system under Wipro’s IAMS is inclusive of core functional areas like:-
- Asset Central, the foundation layer of SAP Intelligent Asset Management delivers innovative simplified technical object structure enabling immense flexibility and modeling for both, simple as well as complex assets.
- SAP Intelligent Asset Management Solutions integrated with SAP S/4HANA provides the right on-premise or cloud deployments workforce, resources, and tools of planning schedules. It schedules proactive, preventive, or condition-based maintenance tasks while rolling out safer maintenance processes.
- SAP Asset Intelligence Network facilitates a global registry of equipment – built and shared among multiple business partners and used across the industry by all stakeholders collaboratively for operational excellence.
- The SAP Asset Strategy and Performance Management application supports manufacturers and asset operators in defining, planning, and monitoring the optimal service and maintenance strategy. It helps design the best maintenance strategies at the lowest cost and risk.
- The SAP Predictive Maintenance and Service solution, combined with the SAP Predictive Engineering Insights solution enables industrial assets with predictive and prescriptive maintenance based on physical sensors and physics-based analysis.
- SAP Asset Manager mobile app provides access to visualizations and insights enabling timely execution of scheduled asset management processes.
Wipro’s IAMS’s Business Advantages and Performance Features
A holistic solution, the Intelligent Asset management Solution offers an array of benefits to an enterprise optimizing its asset lifecycle for improved ROA (Return on Asset).
- State-of-the-art business processes: Use new technologies to enable new asset- management business processes anywhere and anytime. Operational analytics: Analyze failure patterns, trends, and maintenance solutions, adopted in real-time, and initiate the right preventive actions
- Real-time insights and decision making: Gain complete visibility on strategic, tactical, and operational levels. Real-time decision making: Easily plan for upgrades by predicting asset failures based on continuous learning AI/ML tools that deliver immediate results.
- Asset monitoring: Monitor the health of the asset for a given functional area for any anomalies. 10% increase in uptime and productivity due to real-time monitoring of machine and failure prediction leading to reduced downtimes and 20% increase in asset life. Failure prediction: Enable predictive analysis of the asset based on the aging of the equipment
- Assets connectivity and failure Prediction: It provides an asset facility with scalable transparency by streaming data from operational as well as business systems. A shop floor line manager can remotely analyze with IoT data simulation and annotations of the problem using a VR-driven digital twin.
- Collaboration throughout the asset lifecycle: The IAM collaborates asset information across the integrated cloud-based business network. It provides the entire team integrated visibility into multiple assets’ performance for better performance coordination. For doing business globally Wipro’s IAM standardizes business processes across industries and countries. Enables operational efficiency across asset lifecycle through collaboration between EPCs, OEMs, service providers, and operators.
- Decrease in maintenance expenditure up to 20%: The IAM transit an asset facility to undergo from reactive to a predictive maintenance approach. This improves operational efficiencies, increases productivity, and reduces human dependency resulting in lower expenditure on maintenance and TCO (Total Cost of Ownership) by 10% to 30%. Further, it also reduces overhead costs by 10% to 30%. It helps to balance the operating expenditure (OPEX) and capital expenditures (CAPEX) of an enterprise.
- Environment, health, and safety (EHS) measures: The solution gathers real-time insights from across workplace environments and alerts safety hazards. It ensures equipment usage and behavioral safety by reducing accidents and comply an enterprise to ISO 55001 for assets operating safely with minimum expenditure.
Overall, the Intelligent Asset Management solution by Wipro connects assets with business systems for sharing information, preserving operational integrity, collaborating asset information across the business eco-system, and enabling digital transformation of asset management.